Goldman Sachs computer model warns bear market is near but the firm’s analysts don’t believe it

A computer model built by Goldman Sachs is signaling that a bear market is right around the corner, but some strategists at the investment bank are not listening to their own indicator.

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Goldman Sachs’ bull/bear indicator is sitting above 70 percent. That level is “normally associated with high risks for equity investors,” Goldman’s Peter Oppenheimer, Sharon Bell, Lilia Peytavin and Guillaume Jaisson wrote in a note Monday.

The indicator takes into account five factors: growth momentum (measured by the average percentile for U.S. ISM indexes), the slope of the yield curve, core inflation, unemployment and stock valuations as measured by the Shiller price-earnings multiple.